A Baltimore area Nissan auto dealership switched hands on June 26 to a pair of Florida-based owners.
Carl Leckner sold Leckner Nissan of Ellicott City to Faisal and Ali Ahmed, according to a press release issued by auto dealership broker Performance Brokerage Services and George Chaconas, its southeast region partner. With the dealership now under the control of the Ahmeds, it will operate as Nissan of Ellicott City.
“The buyers are excited about the opportunity, and it’s a good opportunity for them to entire the Baltimore market,” Chaconas told Mega Dealer News.
Nissan of Ellicott City is the Ahmeds’ lone dealership outside of the Sunshine State, joining Miami Lakes Auto Mall, Aventura Chrysler Dodge Jeep Ram of North Miami Beach, Cape Coral Chrysler Dodge Jeep Ram, Chrysler Jeep of Hollywood, Kendall Chrysler Dodge Jeep Ram of Miami, University Dodge Ram of Davie and University Mitsubishi of Davie.
The dealership was sold through a receiver, which is becoming more common as of late, the release said. While the sale amount is unknown, the National Automobile Dealers Association reported that the average dealer had a debt of $1.44, not including floorplan and mortgage debt, for every $1 of equity in the business in the first quarter of this year, which represents a 30 percent increase from the first quarter of 2015.
Ali Ahmed attributed the sale to Chaconas’ efforts.
“For years, I have known of George Chaconas and Performance Brokerage Services as the highest volume automotive dealership brokerage firm in the country,” he said in the release. “George introduced me to a great opportunity in Leckner Nissan of Ellicott City, Maryland that he was hired to sell by a receiver. It was an unusual buy-sell through the court, though George was very professional and diligent in helping us acquire the dealership.”